Evolem Acquires Majority Stake In CT Company RX Solutions

EVOLEM has acquired a majority stake in the RX SOLUTIONS, manufacturer and services provider in Computed Tomography (CT).

RX Solutions was founded in 2006 and is a recognized expert in Computed Tomography (CT), an X-ray imaging technic derived from medical scanners and used in many industries for non-destructive testing and analysis of the inner structure of all kinds of material, components and assemblies.

RX Solutions Business is divided into two main segments:
– Development, manufacturing, distribution and support of a comprehensive range of CT systems based on proprietary mechanical design and software.
– CT scanning and inspection services for industrial customers requiring non destructive testing, material analysis or dimensional metrology of their sample parts.

Historically sold to Universities and research centers, RX solutions’ CT systems are now increasingly used in industries such as automotive, aerospace, medical devices, electronics or micro-mechanic. RX Solutions has established a strong position in the CT market. The company is recognized for providing high performance CT systems especially with high resolution for detailed parts inspection and also for providing high quality support to its customer base.The company has achieved a turnover of € 8M last year with 55% of its sales to overseas markets.

The shareholders of the company, Loïc Cherel (founder), Enzo Di Luigi (CEO), François Vaudaine (CTO) and Norbert Giraud wanted to partner with EVOLEM to benefit from their expertise in building up strategy and from their support to structure the company for strong expected growth.

“From the start of our discussions, we liked Evolem’s project because of the priority given to the long term and the quality and pragmatism of the team. The creation of a new sectorial group, able to generate strong growth in the CT market, will accelerate the international development already started by RX Solutions. This new partnership will allow us to fully capitalize on the company’s growth potential in the field of the non destructive testing and will also contribute to our customers’ and employees’ satisfaction” explained Enzo Di LUIGI.

“RX Solutions is known as a specialist of Computed Tomography (CT), an innovative technology with a strong growth that is gaining more and more ground in the non destructive testing and metrology markets. The seasoned management team as well as the track record of the company and the important build up opportunities of the market have driven our investment along side the historical shareholders” added Samuel Saucourt.

Evolem, is a French family company, created and 100% owned by an entrepreneur: Bruno Roussett. Evolem’s investment approach is based on a long term strategic vision shared with the management, and no exit horizon in order to accompany the development of leading players in specific sectors. In the context of majority transactions, Evolem invests in companies with sales between €10M and € 80M and operating in niche markets, with the objective of growing small to intermediate size (€ 100M to € 150M in sales) through organic and external growth and increased international reach. Having completed 50 add-ons operations including 13 abroad, Evolem has a solid experience in carrying out such transactions for its platforms, in the identification of potential targets, approach, negotiations and execution.

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